Rakuten Group Plans Major Restructuring to Integrate Fintech Units

The reorganization, set to be implemented in October, follows a memorandum of understanding between Rakuten Group and Rakuten Bank. Despite the integration, Rakuten Bank will remain listed on the Tokyo exchange. 

The parent company, primarily focused on its e-commerce platform Rakuten Ichiba, has faced financial challenges since the launch of its mobile carrier in 2020, resulting in consecutive quarters of operating losses. To address this, Rakuten has pursued measures such as issuing equity and debt, selling assets, and listing Rakuten Bank in April 2023.

 Although plans to list its securities arm were initially delayed, Rakuten eventually sold a 30% stake to Mizuho Financial Group in November 2023. As part of the reorganization, Rakuten is considering abandoning the listing of Rakuten Securities.